Accounting duties

In Equitas Ltd v Horace Holman & Co [2007] EWHC 903 (Comm) the claimant reinsured asserted that sums received by brokers on outwards reinsurances remained owing, but claimed that it was unable to obtain from the broker any proper accounting information. These allegations required Andrew Smith J to consider the nature of the accounting duties owed by a broker. Much of the case turns on its facts and on the further question of whether the broker should pay the costs of the protracted proceedings.